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How do you get what is owed for a car that is totalled in accident?
Wiki User
∙ 10y ago
The insurance company pays you once all formalities are taken care of.
Wiki User
∙ 10y ago
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Had an accident just got into another one Does the insurance company calculate the damages from the first accident plus the damages on this second accident to figure if that car is Totaled?
No. A "totalled" car is one whose value is less than the total cost of the repair.
What does a title mean?
Vehicle was in an accident and "totalled" at one time
What is the formula to determine if a car is totalled?
If the car costs more to repair than its listed value, then it is defined as "totalled."
Does the insurance company have the right to total your car even if their insured was at fault for the accident?
Your car being deemed a total loss does not have anything to do with the liability of the accident. Your vehicle becomes totalled when the repair cost exceeds the local market value of your vehicle.
What does a rebuilt title mean?
Vehicle was in an accident and "totalled" at one time
Who decides if a car is totalled?
The insurance company.
Can an insurance company allow you to put liability only on a car that hasn't been paid off?
Your lender has to approve any changes in insurance on your car until it is paid off. You may also opt to have them cover the remaining amount owed so that if the car is totalled, your debt is cleared.
What would it mean if a car was 'totalled'?
If a car is "totalled" then it means that the cost of repairing the vehicle makes no financial sense to spend money on it so the insurance company give cash for the vehicle.
What happens if the car was totaled in an accident and money was still owed?
That's about it. The car is totaled. The money is still owed. If there was a loan, you'd better have insurance and if you are lucky, the insurance will cover MOST of what you still owe.AnswerYour insurance co. is obligated by law to satisfy any payment up to the policy's limits. If there are money owed after that, you can sue the other driver for the money owed or be sued, whatever applies.
How much is your car worth if it is totalled?
It is worth how much of it can be re-used
You had no insurance and an uninsured driver hit you so now what should you do Will gap insurance cover?
I'm sorry to say that you are going to pay out of pocket for the damage to your car or try to sue the uninsured driver that hit you for the money. Gap insurance only covers the difference between what you owe on the car and what your insurance paid you when your car was totalled. Since you don't have any insurance your gap coverage is useless. Furthermore if the car wasn't totalled in the accident then gap insurance wouldn't come into play regardless.
What determines if the car is totalled or repairable.?
If it costs more to fix it than to replace it
